Latest news with #Susiwijono Moegiarso
CNA
4 days ago
- Business
- CNA
Indonesia still negotiating details, exemptions on US tariff deal, official says
JAKARTA: Indonesia is still negotiating the details of its recently-reached trade deal with the United States after the latter lowered tariff rates on the Southeast Asian country, and is pursuing exemptions for its exports of palm oil and nickel, an official said on Friday (Jul 18). The two countries reached a trade deal that led to a reduction in the proposed tariff rate to 19 per cent from 32 per cent. The deal was one of only a handful reached so far by the Trump administration ahead of the Aug 1 negotiation deadline. Susiwijono Moegiarso, a senior official at the country's economic ministry, told reporters that the two countries are still negotiating the fine details of the agreement, adding that the 19 per cent rate will be imposed on top of existing sectoral tariffs. Indonesia has asked the United States to exempt its exports of cocoa, rubber, crude palm oil and nickel from the levy, he said, adding that US technology products will also be exempted from Indonesia's "local content" rules, which require companies to use locally-made components in its manufacturing. Indonesia is the world's biggest palm oil producer and the biggest supplier to the United States, accounting for 85 per cent of its total imports in 2024. "This is a good opportunity, this will become a good factor for us," Susiwijono said. "The deal should be good to support our exports." Indonesia will also buy jets for its flag carrier Garuda Indonesia from Boeing, and its state energy firm Pertamina will also import energy from the United States, subject to business reviews, Susiwijono said. He added that all US goods imported into Indonesia will face zero tariffs, with the exception of alcoholic drinks and pork, and some US goods will be exempted from import quota rules.
Yahoo
5 days ago
- Business
- Yahoo
Indonesia still negotiating details, exemptions on U.S. tariff deal, official says
JAKARTA (Reuters) -Indonesia is still negotiating the details of its recently-reached trade deal with the United States after the latter lowered tariff rates on the Southeast Asian country, and is pursuing exemptions for its exports of palm oil and nickel, an official said on Friday. The two countries reached a trade deal that led to a reduction in the proposed tariff rate to 19% from 32%. The deal was one of only a handful reached so far by the Trump administration ahead of the August 1 negotiation deadline. Susiwijono Moegiarso, a senior official at the country's economic ministry, told reporters that the two countries are still negotiating the fine details of the agreement, adding that the 19% rate will be imposed on top of existing sectoral tariffs. Indonesia has asked the United States to exempt its exports of cocoa, rubber, crude palm oil and nickel from the levy, he said, adding that U.S. technology products will also be exempted from Indonesia's "local content" rules, which require companies to use locally-made components in its manufacturing. Indonesia is the world's biggest palm oil producer and the biggest supplier to the United States, accounting for 85% of its total imports in 2024. "This is a good opportunity, this will become a good factor for us," Susiwijono said. "The deal should be good to support our exports." Indonesia will also buy jets for its flag carrier Garuda Indonesia from Boeing, and its state energy firm Pertamina will also import energy from the United States, subject to business reviews, Susiwijono said. He added that all U.S. goods imported into Indonesia will face zero tariffs, with the exception of alcoholic drinks and pork, and some U.S. goods will be exempted from import quota rules. Sign in to access your portfolio
Reuters
5 days ago
- Business
- Reuters
Indonesia still negotiating details, exemptions on U.S. tariff deal, official says
JAKARTA, July 18 (Reuters) - Indonesia is still negotiating the details of its recently-reached trade deal with the United States after the latter lowered tariff rates on the Southeast Asian country, and is pursuing exemptions for its exports of palm oil and nickel, an official said on Friday. The two countries reached a trade deal that led to a reduction in the proposed tariff rate to 19% from 32%. The deal was one of only a handful reached so far by the Trump administration ahead of the August 1 negotiation deadline. Susiwijono Moegiarso, a senior official at the country's economic ministry, told reporters that the two countries are still negotiating the fine details of the agreement, adding that the 19% rate will be imposed on top of existing sectoral tariffs. Indonesia has asked the United States to exempt its exports of cocoa, rubber, crude palm oil and nickel from the levy, he said, adding that U.S. technology products will also be exempted from Indonesia's "local content" rules, which require companies to use locally-made components in its manufacturing. Indonesia is the world's biggest palm oil producer and the biggest supplier to the United States, accounting for 85% of its total imports in 2024. "This is a good opportunity, this will become a good factor for us," Susiwijono said. "The deal should be good to support our exports." Indonesia will also buy jets for its flag carrier Garuda Indonesia ( opens new tab from Boeing, and its state energy firm Pertamina ( will also import energy from the United States, subject to business reviews, Susiwijono said. He added that all U.S. goods imported into Indonesia will face zero tariffs, with the exception of alcoholic drinks and pork, and some U.S. goods will be exempted from import quota rules.
ABC News
15-07-2025
- Business
- ABC News
Donald Trump announces trade deal with Indonesia with a 19 per cent levy to be imposed
US President Donald Trump says he has struck a trade deal with Indonesia, the latest pact since unveiling his so-called "liberation day" tariff policy. News of the deal came as the European Union continued to push for its own agreement with the US, while also readying to retaliate if one could not be reached. "Great deal, for everybody, just made with Indonesia. I dealt directly with their highly respected President. DETAILS TO FOLLOW!!!" Mr Trump said in a post on his social media platform, Truth Social. He later said the US would pay no tariffs to Indonesia as part of a trade deal while goods from the south-east Asian nation would face a 19 per cent levy. Indonesia's total trade with the US, which totalled just under $US40 billion ($61.4 billion) in 2024, does not rank in the top 15, but it has been growing. US exports to Indonesia rose 3.7 per cent last year, while imports from there were up 4.8 per cent, leaving the US with a goods trade deficit of nearly $US18 billion ($27.6) Last year, the top US import categories from Indonesia, according to US Census Bureau data retrieved on the International Trade Centre's TradeMap tool, were palm oil, electronics equipment including data routers and switches, footwear, car tires, natural rubber and frozen shrimp. Prior to Mr Trump's comments, Susiwijono Moegiarso, a senior official with Indonesia's Coordinating Ministry for Economic Affairs, told Reuters in a text message: "We are preparing a joint statement between US and Indonesia that will explain the size of reciprocal tariff for Indonesia including the tariff deal, non-tariff and commercial arrangements. We will inform [the public] soon." Mr Trump had threatened the South-East Asian country with a 32 per cent tariff rate effective August 1 in a letter sent to its president last week. The US president sent similar letters to roughly two dozen trading partners this month, including Canada, Japan and Brazil, setting blanket tariff rates ranging from 20 per cent up to 50 per cent, as well as a 50 per cent tariff on copper. The August 1 deadline gives the targeted countries time to negotiate agreements that could lower the threatened tariffs. Some investors and economists have also noted Mr Trump's pattern of backing off his tariff threats. So far, framework agreements have been reached with the United Kingdom and Vietnam, and an interim deal has been struck with China to forestall the steepest of Trump's tariffs while negotiations continue between Washington and Beijing. The breakthrough with Indonesia came as the European Commission, the EU's governing body, gets set to target 72 billion euros ($84.1 billion) worth of US goods, from Boeing aircraft and bourbon whiskey to cars, for possible tariffs if trade talks with Washington fail. Mr Trump is threatening a 30 per cent tariff on imports from the EU from August 1, a level European officials say is unacceptable and would end normal trade between two of the world's largest markets. The list, sent to EU member states and seen by Reuters on Tuesday, pre-dates Mr Trump's move over the weekend to ramp up pressure on the 27-nation bloc and responds instead to US duties on cars and car parts and a 10 per cent baseline tariff. The package also covers chemicals, medical devices, electrical and precision equipment as well as agriculture and food products including a range of fruits and vegetables, wine, beer and spirits, valued at 6.35 billion euros ($11.3b). Following a meeting of EU ministers in Brussels on Monday, officials said they were still seeking a deal to avoid Mr Trump's heavy tariff blow. But EU trade chief Maroš Šefčovič said those at the meeting expressed unprecedented resolve to protect EU businesses using European countermeasures if negotiations with Washington failed to produce a deal. NATO secretary-general Mark Rutte warned on Wednesday that countries such as Brazil, China and India could be hit very hard by secondary sanctions if they continued to do business with Russia. Mr Rutte made the comment while meeting with senators in the US Congress the day after President Donald Trump announced new weapons for Ukraine and threatened "biting" secondary tariffs of 100 per cent on the buyers of Russian exports unless there was a peace deal in 50 days. "My encouragement to these three countries, particularly is, if you live now in Beijing, or in Delhi, or you are the president of Brazil, you might want to take a look into this, because this might hit you very hard," Mr Rutte told reporters. "So please make the phone call to Vladimir Putin and tell him that he has to get serious about peace talks, because otherwise this will slam back on Brazil, on India and on China in a massive way," he added. Republican US senator Thom Tillis praised Trump for announcing the steps, but said the 50-day delay "worries" him. He said he was concerned that: "Putin would try to use the 50 days to win the war, or to be better positioned to negotiate a peace agreement after having murdered and potentially collected more ground as a basis for negotiation. "So we should look at the current state of Ukraine today and say, no matter what you do over the next 50 days, any of your gains are off the table," he added. Mr Rutte said Europe would find the money to ensure Ukraine was in the best possible position in peace talks. Reuters/ABC
CNA
15-07-2025
- Business
- CNA
Trump lands Indonesia trade deal as EU readies retaliation
WASHINGTON: US President Donald Trump on Tuesday (Jul 15) announced a trade deal with Indonesia, the latest pact in a bid to cement better terms with trading partners and reduce a massive trade deficit, even as the European Union readied retaliatory measures should talks between Washington and its top trading partner fail. "Great deal, for everybody, just made with Indonesia. I dealt directly with their highly respected President. DETAILS TO FOLLOW!!!" Trump said in a post on Truth Social. Indonesia's total trade with the US - totalling just under US$40 billion in 2024 - does not rank in the top 15, but it has been growing. US exports to Indonesia rose 3.7 per cent last year, while imports from there were up 4.8 per cent, leaving the US with a goods trade deficit of nearly US$18 billion. The top US import categories from Indonesia, according to US Census Bureau data retrieved on the International Trade Centre's TradeMap tool, last year were palm oil, electronics equipment including data routers and switches, footwear, car tires, natural rubber and frozen shrimp. Susiwijono Moegiarso, a senior official with Indonesia's Coordinating Ministry for Economic Affairs, told Reuters in a text message: "We are preparing a joint statement between US and Indonesia that will explain the size of reciprocal tariff for Indonesia including the tariff deal, non-tariff and commercial arrangements. We will inform (the public) soon." Trump had threatened the Southeast Asian country with a 32 per cent tariff rate effective Aug 1 in a letter sent to its president last week. Trump sent similar letters to roughly two dozen trading partners this month, including Canada, Japan and Brazil, setting blanket tariff rates ranging from 20 per cent up to 50 per cent, as well as a 50 per cent tariff on copper. The Aug 1 deadline gives the targeted countries time to negotiate agreements that could lower the threatened tariffs. Some investors and economists have also noted Trump's pattern of backing off his tariff threats. Since launching his tariff policy, Trump has clinched only a few deals despite his team touting an effort to bring home "90 deals in 90 days". So far, framework agreements have been reached with the United Kingdom and Vietnam, and an interim deal has been struck with China to forestall the steepest of Trump's tariffs while negotiations continue between Washington and Beijing. EU READIES RETALIATION The breakthrough with Indonesia came as the European Commission, the EU's governing body, gets set to target €72 billion (US$84.1 billion) worth of US goods - from Boeing aircraft and bourbon whiskey to cars - for possible tariffs if trade talks with Washington fail. Trump is threatening a 30 per cent tariff on imports from the EU from Aug 1, a level European officials say is unacceptable and would end normal trade between two of the world's largest markets. The list, sent to EU member states and seen by Reuters on Tuesday, pre-dates Trump's move over the weekend to ramp up pressure on the 27-nation bloc and responds instead to US duties on cars and car parts and a 10 per cent baseline tariff. The package also covers chemicals, medical devices, electrical and precision equipment as well as agriculture and food products - a range of fruits and vegetables, along with wine, beer and spirits - valued at €6.35 billion. Following a meeting of EU ministers in Brussels on Monday, officials said they were still seeking a deal to avoid Trump's heavy tariff blow.
